Should Outside Directors Request the Purchase of Independent Director Liability Policies?
Should outside directors on corporate boards of directors request that the companies’ boards companies purchase Individual Director Liability (IDL) insurance for them? Generally speaking, IDL insurance is just for outside or independent directors of a company and, depending on the form in which it is written, may offer independent directors additional insurance protection if the corporate policyholder’s insurers were to attempt to deny or rescind coverage under the policyholder’s directors and officers insurance policy.
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